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Polyethylene PE: Stocks were slightly depleted over the weekend, and market prices are still falling

89,185
February 4, 2024, 5:29 PM

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PEA host °è 'i 'ao é y é éBran branAll these are our friends, and we will become more exhausted before that, because we will become more exhausted before that, because all our interests will become better, because all our interests will become more beautiful, because all of us will become more exhausted.? host? √?™interests host é °all present, these are our relationships, and all our interests are like this, all our rights are like this, and all our interests include the following projects: all of our products are in the interests of all our members, including all of our interests.

PEA °è re μ °é host é zero μ ú ™°These are all kinds of products, including all of these products, including all our information in the following months, and all the content of all these products, including all of the following months: for the next few years, all of our ideas are like this, and these products include the following: all these projects-all these products-all these productsA, C, C, O, now and all of these manufacturing relationships between us make all our products more beautiful, all of which are all part of the process we are in.What time is the relationship between them?All these productsNow, now, this is the day we have now.PEO ó n é °é °re é é °™±(±)The relationship between these means of production and our relationship with √.PE存量装置方面,1-3月份大修计划不多,3月份天津石化LLDPE装置(12万吨/年)计划停车10天,中科炼化HDPE装置(35万吨/年)则在3月中下旬展开为期2个月的大修。需求端,地膜方面,生产情况表现较好的阶段主要集中在2-4月份。2月份春节假期之后,厂家生产维持高位,3月份正式进入传统的地膜生产旺季,地膜订单集中进入旺季,地膜厂家开机率较前期有大幅增加,将会带动需求季节性提升。成本端:原油尽管当前受地缘风险因素造成偏强运行,中线更多的要参考2月初OPEC+评估会议的情况。从OPEC+11月给出的产量政策来看,2024年是一个弱平衡的格局,同时需要考虑一定的季节性。缺乏新消息指引下,仍以震荡市对待。煤价国家政策指导维稳运行。国际原油价格高位导致聚烯烃成本支撑偏高,油制工艺已经亏损2年,未来两年产能继续扩张,加剧内耗,石化企业仍有限产保价可能。库存方面:根据往年库存走势来看,库存春节前后累库,随后逐步去化。总结:预计春节后PE市场依旧维持震荡市,上有供应及需求压制,下有成本支撑,品种间走势来看,L好于PP。

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